XRB A1
Application of the Accounting Standards Framework

For-profit

Not-for-profit

Public Sector

Sets down the accounting standards framework for for-profit and public benefit entities (both not-for-profit and public sector entities) required, or opting, to prepare general purpose financial reports.

It establishes the:

financial reporting tiers;

criteria for each financial reporting tier;

accounting standards and authoritative notices that apply to each tier; and

requirements for an entity to move from one tier to another tier.

XRB A1
– This version is effective for reporting periods beginning on or after
1 Jan 2016